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It's Not Just Russia: Middle East In Freefall, Biggest Plunge In 6 Years

OWoN: Imagine that the backbone of Stock market index derivatives are a mass of losses with some banks holding the bag along with various Hedge Funds. We'll, see how badly it's hitting the Sand Baggers also now.




It's Not Just Russia: Middle East In Freefall, Biggest Plunge In 6 Years


Zero Hedge
By Tyler Durden
16 December 2014

Dubai's Financial Market General Index is now down 40% since the peak in oil prices in June this year. For now, only Qatar is clinging to gains year-to-date as the rest of the Middle Eastern equity markets give up 30-60% gains from mid-year and tumble to negative. Dubai and Abu Dhabi alone are down over 8% since Friday. Saudi Arabia is down 7.3% today - the biggest drop in 6 years.

Saudi Arabia's worst day in 6 years:




Year-to-date, Kuwait is now down almost 20% with only Qatar clinging to gains...




as All Middle Eastern equity markets have collapsed since oil peaked...




Charts: Bloomberg

link

2 comments :

  1. .....uhummmmm.....who exactly are the "sand-baggers"?

    ReplyDelete
  2. DL, if not mistaken, sandbaggers = Middle East oil exporting countries and their oil companies

    ReplyDelete

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